Crypto Market Selloffs Alert: $2.1B in Bitcoin and Ethereum Options to Expire Today
The cryptocurrency market is bracing for potential selloffs as $1.74 billion in Bitcoin options and $400 million in Ethereum options are set to expire today, with traders leaning bearish due to growing uncertainty. The put-call ratio for Bitcoin options is 1.10, indicating a higher volume of put options compared to call options.
The cryptocurrency market is expecting significant volatility today due to the expiry of Bitcoin and Ethereum options. Deribit derivatives crypto exchange reports that almost 23,000 Bitcoin options with a notional value of $1.74 billion are set to expire, with a put-call ratio of 1.10, indicating traders are leaning bearish. The max pain price for Bitcoin is $76,000, below the current market price of $77,200. Over 175,000 Ethereum options worth $400 million are also set to expire, with a put-call ratio of 0.95. Traders are turning bearish on Ethereum, expecting prices to fall amid crypto market selloffs. The max pain price for Ethereum is $2,325, higher than the current market price of $2,284.
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